August CPI, Trump-Harris debate, stock reactions: 3 Things

Stock futures (ES=F, NQ=F, YM=F) are falling in Wednesday's pre-market trading after August's Consumer Price Index (CPI) came in-line with August estimates. Prices rose by 0.2% month-over-month and 2.5% year-over-year.

Vice President Kamala Harris and former President Donald Trump met on the debate stage Tuesday night in the first presidential debate ahead of the 2024 election. The candidates butted heads on major policy platforms, including the US economy, inflation, and tariffs.

Trump Media & Technology Group (DJT, DJTWW), bitcoin (BTC-USD), and notable solar stocks (FSLR, RUN, ENPH) are reacting to last night's debate performances.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

Let's get to the three things that you need to know today, starting with the market, stock futures are under a bit of pressure here headline inflation, matching expectations both on a monthly and annual basis but stripping out volatile food and energy prices on a monthly basis.

Inflation rising 3/10 of a percent versus the 2/10 of a percent that economists were expecting month over month.

Now the annual figure it did come in in line with that traders.

As of right now, they're pricing in an 85% chance of a 25 basis point cut in September.

This is, according to the CV Fed watch to huge shift that we're seeing here in reaction to that.

All right, well, the first and potentially only presidential debate between Vice President Kamala Harris and former President Donald Trump taking place last night for 90 minutes, the candidates went head to head on the economy, inflation and tariffs, I imagine, and have actually a plan to build what I call an opportunity economy.

We've had a terrible economy, We have inflation like very few people have ever seen before, and what we have done is clean up Donald Trump's mess.

Everybody knows what I'm going to do.

Cut taxes very substantially and create a great economy like I did before.

Well, let's be clear that the Trump administration resulted in a trade deficit following last night's performance.

The Harris campaign is now calling for a second debate and the debate, sparking some market moves as well.

Shares of DJ, T, Trump Media and Technology Group falling as much as 18% free market.

They're now off right now as well.

They've been continuing to be under pressure.

Bitcoin also has been tied into the Trump trade Bitcoin, seeing some pressure, falling as much as 2.5%.

But off of those overnight lows, Crypto is also seen as a trump proxy because he's embraced the industry and spoken at a few conferences on the other side of the aisle.

Solar stocks seen as a potentially doing a better potentially doing better under Harris presidency.

You're seeing those rise here on the day.

These are some of the largest by market cap and they're all seeing some gains here in extended hours right now,